Strategic Management: Corporate strategy - Essay Example

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Strategic Management: Corporate strategy

Examining the actions further at the business level of corporate strategy, every organization has to manage its strategies in three main areas: the organization's internal resources, the external environment within which the organization operates, and the organization's ability to add value to what it does." (p. 7)
"Strategies can be made for different groups of people and/or activities within an organization. The lowest level of aggregation is one person or task, while the highest level of aggregation encompasses all people and/or activities within an organization. The most common distinction between levels of aggregation made in the strategic management literature is between the functional, business and corporate levels. Strategy issues at the functional level refer to questions regarding specific functional aspects of a company (operations strategy, marketing strategy, financial strategy, etc.). Strategy at the business level requires the integration of functional level strategies for a distinct set of products and/or services intended for a specific group of customers. Often companies only operate in one such business, so that this is the highest level of aggregation within the firm. However, there are also many companies that are in two or more businesses. ...Show more

Summary

At the business level, corporate strategy is concerned with competing for customers, generating value from the resources and the underlying principle of the sustainable competitive advantages of those resources over rival companies. The strategy of the firm is the match between its internal capabilities and its external relationships…
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Strategic Management: Corporate strategy essay example
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